IMMO - MARNIX: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
IMMO - MARNIX
Largest movements
- Receivables within one year +€163,279
up €163,279 (+14.9%), from €1.1m to €1.3m
of which Other amounts receivable: +€170,714
- Cash -€156,359
down €156,359 (-84.3%), from €185,517 to €29,158
mainly Receivables within one year (-€163,279) and Investment in fixed assets (net) (-€82,065)
- Tangible fixed assets +€27,454
up €27,454 (+2.7%), from €1.0m to €1.0m
of which Land and buildings: +€27,510
- Trade debts +€45,681
up €45,681 (+474.0%), from €9,638 to €55,319
- Debts after one year -€25,014
down €25,014 (-3.8%), from €665,860 to €640,845
- Gross operating margin -€311,163
down €311,163 (-69.8%), from €446,008 to €134,845
- Taxes +€10,667
up €10,667 (+209.6%), from €5,090 to €15,758
- Financial charges +€8,370
up €8,370 (+31.4%), from €26,630 to €35,001
- Other operating charges +€7,392
up €7,392 (+62.9%), from €11,750 to €19,142
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,301,857 | €2,336,458 | +€34,601 | +1.5% |
| Fixed assets | 21/28 | €1,018,185 | €1,045,639 | +€27,454 | +2.7% |
| Tangible fixed assets | 22/27 | €1,018,185 | €1,045,639 | +€27,454 | +2.7% |
| Land and buildings | 22 | €1,012,936 | €1,040,446 | +€27,510 | +2.7% |
| Plant, machinery and equipment | 23 | €5,249 | €5,193 | -€56 | -1.1% |
| Current assets | 29/58 | €1,283,672 | €1,290,819 | +€7,147 | +0.6% |
| Amounts receivable within one year | 40/41 | €1,097,752 | €1,261,031 | +€163,279 | +14.9% |
| Trade receivables | 40 | €7,435 | - | -€7,435 | |
| Other amounts receivable | 41 | €1,090,317 | €1,261,031 | +€170,714 | +15.7% |
| Cash at bank and in hand | 54/58 | €185,517 | €29,158 | -€156,359 | -84.3% |
| Deferred charges and accrued income | 490/1 | €402 | €629 | +€227 | +56.3% |
| Total equity and liabilities | 10/49 | €2,301,857 | €2,336,458 | +€34,601 | +1.5% |
| Equity | 10/15 | €1,299,127 | €1,315,991 | +€16,864 | +1.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Revaluation surpluses | 12 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €880,535 | €897,399 | +€16,864 | +1.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €851,309 | €834,407 | -€16,903 | -2.0% |
| Distributable reserves | 133 | €27,366 | €61,132 | +€33,766 | +123.4% |
| Provisions and deferred taxes | 16 | €283,770 | €278,136 | -€5,634 | -2.0% |
| Deferred taxes | 168 | €283,770 | €278,136 | -€5,634 | -2.0% |
| Amounts payable | 17/49 | €718,960 | €742,332 | +€23,372 | +3.3% |
| Amounts payable after more than one year | 17 | €665,860 | €640,845 | -€25,014 | -3.8% |
| Financial debts | 170/4 | €665,860 | €640,845 | -€25,014 | -3.8% |
| Amounts payable within one year | 42/48 | €50,791 | €101,486 | +€50,695 | +99.8% |
| Current portion of amounts payable after more than one year | 42 | €36,420 | €24,932 | -€11,488 | -31.5% |
| Financial debts | 43 | €2,944 | €8,970 | +€6,026 | +204.7% |
| Credit institutions | 430/8 | €2,944 | €8,970 | +€6,026 | +204.7% |
| Trade debts | 44 | €9,638 | €55,319 | +€45,681 | +474.0% |
| Suppliers | 440/4 | €9,638 | €55,319 | +€45,681 | +474.0% |
| Taxes, remuneration and social security | 45 | €768 | €12,115 | +€11,347 | +1477.0% |
| Taxes | 450/3 | €18 | €11,365 | +€11,347 | +62176.4% |
| Remuneration and social security | 454/9 | €750 | €750 | = | 0.0% |
| Other amounts payable | 47/48 | €1,021 | €150 | -€871 | -85.3% |
| Accrued charges and deferred income | 492/3 | €2,310 | - | -€2,310 | |
| Non-recurring operating income | 76A | €186,697 | - | -€186,697 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,559 | €54,611 | +€1,051 | +2.0% |
| Other operating charges | 640/8 | €11,750 | €19,142 | +€7,392 | +62.9% |
| Gross operating margin | 9900 | €446,008 | €134,845 | -€311,163 | -69.8% |
| Operating profit (loss) | 9901 | €380,698 | €61,092 | -€319,607 | -84.0% |
| Financial income | 75/76B | €525 | €896 | +€371 | +70.6% |
| Recurring financial income | 75 | €525 | €896 | +€371 | +70.6% |
| Financial charges | 65/66B | €26,630 | €35,001 | +€8,370 | +31.4% |
| Recurring financial charges | 65 | €26,630 | €35,001 | +€8,370 | +31.4% |
| Profit (loss) for the period before taxes | 9903 | €354,593 | €26,987 | -€327,606 | -92.4% |
| Transfer from deferred taxes | 780 | €4,112 | €5,634 | +€1,522 | +37.0% |
| Transfer to deferred taxes | 680 | €61,736 | - | -€61,736 | |
| Income taxes | 67/77 | €5,090 | €15,758 | +€10,667 | +209.6% |
| Profit (loss) for the period | 9904 | €291,879 | €16,864 | -€275,016 | -94.2% |
| Transfer from tax-exempt reserves | 789 | €12,337 | €16,903 | +€4,566 | +37.0% |
| Transfer to tax-exempt reserves | 689 | €185,208 | - | -€185,208 | |
| Profit (loss) for the period to be appropriated | 9905 | €119,008 | €33,766 | -€85,242 | -71.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.